Millennium Management LLC Acquires 355,863 Shares of Martin Marietta Materials, Inc. (MLM)

Millennium Management LLC lifted its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 4,255.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 364,225 shares of the construction company’s stock after buying an additional 355,863 shares during the quarter. Millennium Management LLC owned approximately 0.58% of Martin Marietta Materials worth $75,504,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. M&T Bank Corp lifted its position in Martin Marietta Materials by 27.6% in the 4th quarter. M&T Bank Corp now owns 5,335 shares of the construction company’s stock valued at $1,179,000 after purchasing an additional 1,154 shares during the last quarter. Cetera Advisors LLC lifted its position in Martin Marietta Materials by 26.5% in the 4th quarter. Cetera Advisors LLC now owns 1,342 shares of the construction company’s stock valued at $295,000 after purchasing an additional 281 shares during the last quarter. Wells Fargo & Company MN lifted its position in Martin Marietta Materials by 8.0% in the 4th quarter. Wells Fargo & Company MN now owns 199,825 shares of the construction company’s stock valued at $44,169,000 after purchasing an additional 14,885 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Martin Marietta Materials by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 78,304 shares of the construction company’s stock valued at $17,309,000 after purchasing an additional 774 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in Martin Marietta Materials by 14.8% in the 4th quarter. Toronto Dominion Bank now owns 27,366 shares of the construction company’s stock valued at $6,049,000 after purchasing an additional 3,538 shares during the last quarter. Institutional investors own 99.82% of the company’s stock.

MLM has been the topic of several recent research reports. Stephens reiterated a “hold” rating and issued a $233.00 price objective on shares of Martin Marietta Materials in a research report on Friday, April 13th. Bank of America upgraded shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $229.00 price objective on the stock in a research report on Wednesday, May 2nd. ValuEngine downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Citigroup set a $262.00 price objective on shares of Martin Marietta Materials and gave the company a “buy” rating in a research report on Tuesday, May 15th. Finally, Zacks Investment Research downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $238.13.



Martin Marietta Materials stock opened at $227.58 on Wednesday. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 1.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.06 and a current ratio of 4.00. Martin Marietta Materials, Inc. has a 52 week low of $189.26 and a 52 week high of $241.33.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Tuesday, May 8th. The construction company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.09). The company had revenue of $802.00 million for the quarter, compared to analyst estimates of $822.23 million. Martin Marietta Materials had a net margin of 17.36% and a return on equity of 9.47%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS. research analysts forecast that Martin Marietta Materials, Inc. will post 9.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 1st will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $1.76 annualized dividend and a yield of 0.77%. Martin Marietta Materials’s payout ratio is 24.51%.

In other Martin Marietta Materials news, Director Michael J. Quillen sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $212.50, for a total transaction of $637,500.00. Following the transaction, the director now owns 20,283 shares of the company’s stock, valued at approximately $4,310,137.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Donald A. Mccunniff sold 4,226 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $230.72, for a total transaction of $975,022.72. Following the transaction, the senior vice president now directly owns 14,899 shares in the company, valued at approximately $3,437,497.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,633 shares of company stock worth $4,682,373. 0.75% of the stock is owned by corporate insiders.

About Martin Marietta Materials

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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Institutional Ownership by Quarter for Martin Marietta Materials (NYSE:MLM)

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